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Author Question: The figure below shows the isocost lines and the isoquant map for a firm producing golf tees.FIGURE ... (Read 130 times)

swande

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on: Oct 12, 2022

The figure below shows the isocost lines and the isoquant map for a firm producing golf tees.



FIGURE 8-5
Refer to Figure 8-5. At each of points A, C, E and G on the isoquant map we know that


◦ the firm has adjusted the factor prices to equate the ratio of marginal products of the factors.
◦ the firm can adjust its employment of factors to reduce its total cost, with output unchanged.
◦ the ratio of the marginal products of capital and labour is equal to the ratio of the prices of capital and labour.
◦ the firm is at its cost-minimizing position for an output level of 4000 golf tees.
◦ the ratio of the marginal utilities of capital and labour is equal to the ratio of the prices of capital and labour.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by swande on Oct 12, 2022

bleep bloop

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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swande

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

Kedrick2014

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Reply 3 on: Yesterday
Excellent

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